HMRC sends out first batch of Accelerated Payment Notices (APNs)

HMRC has sent its first batch of Accelerated Payment Notices (APNs) recently as it announces plans to send approximately 2,500 each month.

Accelerated Payment Notices are in effect a demand from HMRC for those it suspects of tax avoidance to pay up front, within 90 days, or face additional penalties, or in extreme cases, criminal prosecution. If an individual challenges their case at a tax tribunal, and is successful, then they will be reimbursed by HMRC with interest.

Through the APNs, HMRC aims to recoup around £7bn over the next 18 months from those who have invested in tax avoidance schemes, such as the Liberty Tax Scheme.

HMRC claims that there are approximately 43,000 tax avoidance scheme users, consisting of 33,000 individuals and 10,000 businesses.

If you receive an APN from HMRC you will be forced to make an upfront payment of what it believes is owed as a result of investing in a tax avoidance scheme. The strategy has received many critics with some citing that it could lead to an increase in bankruptcies.

Time is ticking for many. You may consider making a voluntary disclosure to HMRC rather than risk falling on it’s APN radar. If this is the case you should seek expert advice from tax investigations professionals.

For more information and to speak to a tax investigations professional in complete confidence call 0113 387 5670 or fill out an Enquiry Form .